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Thread: The Covid-19 $1,000 Handouts? :)

  1. #121
    Originally Posted by The Boz View Post
    Originally Posted by mickeycrimm View Post
    Originally Posted by kewlJ View Post
    so the IRS started sending out the $1200 relief/stimulous payments yesterday. I have not received mine yet. Just wondering if anyone here did?
    My SS won't be deposited until Wednesday. I'll know something then.
    Im thinking they will be dropped as separate deposits. But I didn’t read anything either way. I personally lost out because I filed my 2019 return early due to selling the business. If it went on 2018 I would have gotten something by being married and a joint income.
    I have heard of a few people like that. I actually lucked out the other way. If they had used my 2018, I wouldn't have qualified, but by 2019, which I had already filed, I do. (2019 was not as strong as 2018).

    This seems crazy to me that someone would or wouldn't qualify depending on if they just had happened to file 2019 early or not. Also doesn't seem right that someone who happened to have a big payday due to circumstances like yours, selling a business should be penalized. Probably a result of this thing being rushed through without thinking everything out. You know the original plan was Mitt Romney's $1000 for every American. Maybe they should have just kept things simple. Like Blackjack counts, keeping it simple is sometimes best.

  2. #122
    Originally Posted by kewlJ View Post
    Originally Posted by The Boz View Post
    Originally Posted by mickeycrimm View Post

    My SS won't be deposited until Wednesday. I'll know something then.
    Im thinking they will be dropped as separate deposits. But I didn’t read anything either way. I personally lost out because I filed my 2019 return early due to selling the business. If it went on 2018 I would have gotten something by being married and a joint income.
    I have heard of a few people like that. I actually lucked out the other way. If they had used my 2018, I wouldn't have qualified, but by 2019, which I had already filed, I do. (2019 was not as strong as 2018).

    This seems crazy to me that someone would or wouldn't qualify depending on if they just had happened to file 2019 early or not. Also doesn't seem right that someone who happened to have a big payday due to circumstances like yours, selling a business should be penalized. Probably a result of this thing being rushed through without thinking everything out. You know the original plan was Mitt Romney's $1000 for every American. Maybe they should have just kept things simple. Like Blackjack counts, keeping it simple is sometimes best.
    I did read where this is actually going to be considered an advance that will be filed on your 2020 tax returns. Still free money, but will be a line on the return. So possibly I would get a tax credit for the amount if my 2020 income would qualify me. It kind of makes sense as it is to help people in 2020. But it seems it’s ever changing so time will tell. I kept my accountant for multiple reasons so he will be on top of it. I’m not too proud to take it if I qualify for it, which my 2020 income definitely will.

  3. #123
    So, I guess I make too much. But, I'm married and my wife makes zero. Because combined (joint tax return) we make less than $150k, we each get the $1200? And $500 for our son?

  4. #124
    Originally Posted by ddb1 View Post
    So, I guess I make too much. But, I'm married and my wife makes zero. Because combined (joint tax return) we make less than $150k, we each get the $1200? And $500 for our son?
    Yep, as long as you filed jointly and made less than $150k combined on the last tax year filed. Children I believe is 18 and younger.

  5. #125
    I got mine. It is a pending deposit in my checking account.

  6. #126
    Originally Posted by Midwest Player View Post
    I got mine. It is a pending deposit in my checking account.
    Aren't you on Social security, MWP? It was my understand that SS recipients were going to be in the second wave of direct payments later this week after the first wave which was supposed to be those of us that had filed Tax returns? Leave it to MWP, butting in line getting his!

    I am kidding MWP. Good for you and good that payments have started going out in a timely fashion. I mean it has literally been 2 weeks since the bill was signed and payments are going out. That is remarkably fast for this kind of thing. Kudos to the Treasury Dept and Mr. Mnuchin.

  7. #127
    Originally Posted by kewlJ View Post
    Originally Posted by Midwest Player View Post
    I got mine. It is a pending deposit in my checking account.
    Aren't you on Social security, MWP? It was my understand that SS recipients were going to be in the second wave of direct payments later this week after the first wave which was supposed to be those of us that had filed Tax returns? Leave it to MWP, butting in line getting his!

    I am kidding MWP. Good for you and good that payments have started going out in a timely fashion. I mean it has literally been 2 weeks since the bill was signed and payments are going out. That is remarkably fast for this kind of thing. Kudos to the Treasury Dept and Mr. Mnuchin.
    Maybe we should take redietz' tact and attribute the promptness of the payments to the president. If he is responsible for the bad stuff then he must be responsible for the good stuff, right redietz? But no, redietz line would be they were prompt in spite of the president.
    "More importantly, mickey thought 8-4 was two games over .500. Argued about it. C'mon, man. Nothing can top that for math expertise. If GWAE ever has you on again, you can be sure I'll be calling in with that gem.'Nuff said." REDIETZ

  8. #128
    Originally Posted by kewlJ View Post
    Originally Posted by Midwest Player View Post
    I got mine. It is a pending deposit in my checking account.
    Aren't you on Social security, MWP? It was my understand that SS recipients were going to be in the second wave of direct payments later this week after the first wave which was supposed to be those of us that had filed Tax returns? Leave it to MWP, butting in line getting his!

    I am kidding MWP. Good for you and good that payments have started going out in a timely fashion. I mean it has literally been 2 weeks since the bill was signed and payments are going out. That is remarkably fast for this kind of thing. Kudos to the Treasury Dept and Mr. Mnuchin.
    I along with many social security recipients file an income tax. It is only those ss recipients who don't have enough income to file will get it in their ss checks.

  9. #129

  10. #130
    I still haven't received my $1200. Treasury department says a good number have already gone out to people that had already filed their taxes (that's me). I know some others have received. This got me thinking that despite that I have filed, the IRS or Treasury has no banking information on me because I do not get a refund. I owed taxes which I paid.

    I briefly looked at the treasury website last night and saw this portal (posted above) for non filers, to enter their banking info, but that is not me either. I am a filer, just don't get a refund. So today's mission will be for me to try to figure out how I might go about getting my banking info (routing number and check acct number) to the IRS/treasury department so I can receive my payment. Anyone having any ideas or info (Andrew, you seem to have looked into some of this stuff), please advise.

  11. #131
    Originally Posted by kewlJ View Post
    So today's mission will be for me to try to figure out how I might go about getting my banking info to the IRS/treasury department so I can receive my payment. Anyone having any ideas or info, please advise.
    I know a guy at the IRS...message all the info to me and I'll forward it along.

  12. #132
    Originally Posted by kewlJ View Post
    I still haven't received my $1200. Treasury department says a good number have already gone out to people that had already filed their taxes (that's me). I know some others have received. This got me thinking that despite that I have filed, the IRS or Treasury has no banking information on me because I do not get a refund. I owed taxes which I paid.

    I briefly looked at the treasury website last night and saw this portal (posted above) for non filers, to enter their banking info, but that is not me either. I am a filer, just don't get a refund. So today's mission will be for me to try to figure out how I might go about getting my banking info (routing number and check acct number) to the IRS/treasury department so I can receive my payment. Anyone having any ideas or info (Andrew, you seem to have looked into some of this stuff), please advise.
    I'm in the same boat - I owe taxes every year. The link for our circumstance isn't available yet, but I'll post it when I get it

  13. #133
    Originally Posted by kewlJ View Post
    I still haven't received my $1200. Treasury department says a good number have already gone out to people that had already filed their taxes (that's me). I know some others have received. This got me thinking that despite that I have filed, the IRS or Treasury has no banking information on me because I do not get a refund. I owed taxes which I paid.

    I briefly looked at the treasury website last night and saw this portal (posted above) for non filers, to enter their banking info, but that is not me either. I am a filer, just don't get a refund. So today's mission will be for me to try to figure out how I might go about getting my banking info (routing number and check acct number) to the IRS/treasury department so I can receive my payment. Anyone having any ideas or info (Andrew, you seem to have looked into some of this stuff), please advise.
    The IRS plans to open an online web portal within days. It doesn't look like it is up and running yet.

    https://www.cnet.com/personal-financ...-what-to-know/

    https://www.irs.gov/coronavirus/econ...mpact-payments

  14. #134
    Thanks Midwest Player and straightbuthating, I will keep an eye out for updates.

  15. #135
    Originally Posted by kewlJ View Post
    I still haven't received my $1200. Treasury department says a good number have already gone out to people that had already filed their taxes (that's me). I know some others have received. This got me thinking that despite that I have filed, the IRS or Treasury has no banking information on me because I do not get a refund. I owed taxes which I paid.

    I briefly looked at the treasury website last night and saw this portal (posted above) for non filers, to enter their banking info, but that is not me either. I am a filer, just don't get a refund. So today's mission will be for me to try to figure out how I might go about getting my banking info (routing number and check acct number) to the IRS/treasury department so I can receive my payment. Anyone having any ideas or info (Andrew, you seem to have looked into some of this stuff), please advise.
    The IRS should be putting out a link, any day now, call Get My Payment. It’s for those who filed, but paid taxes, therefore the IRS does not have a bank account number to forward the stimulus check. Your bank account number goes there. I’m on the lookout too for this.

    https://www.irs.gov/coronavirus/econ...mpact-payments
    Keep your friends close, keep your drinks closer...

  16. #136
    Non-Filers:there is a section for the non-filers where you could put your bank routing info if you want. The IRS states on the online form that if you don't put this routing info in, then they mail you your check with the address you provided in your online non-filers submission - it will just take longer for you to get your check than for direct deposit obviously.

  17. #137
    Hmm. Maybe I could get my Stimulus Check deposited into my CURRENT bank Account because the Bank Account I received my 2019 Refund in is now closed. It would suck really bad to get a Stimulus Check deposited into a bank Account that technically doesn't exist anymore. Edit. The Bank Account is closed due to an overdraft I had. In 2019, there were absolutely no thoughts of a Countrywide Stimulus checks, so there was no way I would have ever have known that this closed bank Account could cause me problems with a Stimulus Check in 2020.
    Last edited by Tasha; 04-14-2020 at 03:15 PM.
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  18. #138
    Originally Posted by Tasha View Post
    Hmm. Maybe I could get my Stimulus Check deposited into my CURRENT bank Account because the Bank Account I received my 2019 Refund in is now closed. It would suck really bad to get a Stimulus Check deposited into a bank Account that technically doesn't exist anymore. :/
    hopefully it didn't close due to arrears, because banks are allowed to withhold your stimulus check to pay off current balances, at their discretion:

    https://prospect.org/coronavirus/ban...eck-pay-debts/

  19. #139
    Originally Posted by kewlJ View Post
    I still haven't received my $1200. Treasury department says a good number have already gone out to people that had already filed their taxes (that's me). I know some others have received. This got me thinking that despite that I have filed, the IRS or Treasury has no banking information on me because I do not get a refund. I owed taxes which I paid.

    I briefly looked at the treasury website last night and saw this portal (posted above) for non filers, to enter their banking info, but that is not me either. I am a filer, just don't get a refund. So today's mission will be for me to try to figure out how I might go about getting my banking info (routing number and check acct number) to the IRS/treasury department so I can receive my payment. Anyone having any ideas or info (Andrew, you seem to have looked into some of this stuff), please advise.
    I wouldn't worry about how long it'll take to get it kew. Just use some of that "banked EV" when you go to the grocery store the next time. It's worth a bundle.

  20. #140
    Originally Posted by Rob.Singer View Post
    I wouldn't worry about how long it'll take to get it kew. Just use some of that "banked EV" when you go to the grocery store the next time. It's worth a bundle.
    Well Rob, you are making light of a concept you either don't understand or maybe just pretend not to understand I am not quite sure. But this is exactly what I have been doing!

    Let me explain. Last year I spend about 3 months in the fall towards winter, on a different AP project, blackjack related, but it wasn't card counting. So when December rolled around, my annual numbers from card counter were down a but, because I had devoted so much time to the other project. So I decide to use the final few weeks in December, to squeeze in some final card counting play. It so happens after the rodeo leaves town the second week in December is really good card counting conditions.

    So as variance (not luck) would have it, I went backwards in the final weeks instead up bumping my results for the good. So for those final few weeks, I lost roughly 10 grand, but because conditions were good, I got in a lot of good play, good strong +EV. Just the scenario you joke about. "Banked EV".

    And end of year!

    So the clock strikes 2020, and I get off to a good start playing blackjack. Not great, not the best start I ever experienced, but a good start, above accumulated Ev or expectation for the 2+ months until this virus disrupted all of our lives. So that 2+ months above expectation or accumulated EV....that was results catching up to last December's "banked EV". Just the way it is supposed to work. Thanks for helping me explain it, Rob.

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